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Question Practice

What could be a reason for a partner to sacrifice part of their profit share?

Attempt the question, check the explanation, and continue with similar questions to build confidence before exams.

MCQ_SA
CBSE
Class 12
Accountancy
Accountancy Part - I
Reconstitution of a Partnershi...
Question Bank

What could be a reason for a p...

Single Answer MCQ
Q-00082114

What could be a reason for a partner to sacrifice part of their profit share?

1

To increase their own share in the partnership

2

To reduce total equity in the firm

3

To allow for the admission of a new partner

4

To cover firm's losses

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Q1.

What is reconstitution of a partnership firm?

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When can a new partner be admitted into a partnership firm?

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Q4.

What rights does a newly admitted partner acquire in a partnership firm?

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